PAC calls for review of university financial regulations, procedures

KUALA LUMPUR: The Higher Education Ministry has been urged to review the university financial regulations and procedures to streamline the financial affairs of the tertiary institutions, said Public Accounts Committee (PAC) chairman Datuk Seri Hasan Ariffin.
He said the role of internal audit in each university should also be strengthened to ensure proper management of university procurements.
These measures were part of the recommendations made by the PAC resulting from its investigations into the management of procurement in Universiti Malaysia Kelantan (UMK) following the findings of the National Audit Department in the Auditor-General's Report 2014 Series 2 which was tabled in Parliament on June 15, 2015.
The PAC report on the issue was tabled in Parliament today.
"The PAC has recommended that UMK apply the existing financial procedure in line with the Treasury circular," he said in a statement today.
He added that a meeting was held between PAC and the ministry and university's senior officials on March 22 on the matter. — Bernama